Detroit Today

How Will The New Water Authority Work?

Monday, September 15, 2014

Photo courtesy of the Detroit Free Press We look at the financial challenges facing the new regional water authority with Crain's Detroit Business reporter Chad Halcom.

Halcom’s recent article in Crain’s Detroit Business lays out the financial issues facing the Great Lakes Water Authority.

“This is one of the things we’ve been very interested to hear about,” says Halcom of figuring out how Detroit will reorganize its consumer debt. The question is if city finances are solvent enough to take on a new authority and make strides towards financial recoveries.

“The balance sheets were a sticky part of the deal,” Halcom says. At this point, he explains that it’s believed that most of the debt could be assumed by this regional authority, but the details are still being worked out.